It’s our 50^th anniversary and in appreciation to NTUC members, we are offering a complimentary LUV term life insurance for the first year worth up to $228¹.

This applies to basic cover only with a sum assured of $50,000. Promotion is valid for the first 50,000 successful sign-ups² from 18 June 2020 to 30 April 2021. 

Here are 5 reasons why you should apply for this plan now:

1. First year’s $50,000 coverage is on us!
2. Receive hospital cash benefits³ in the event of hospitalisation, even when you contract COVID-19.
3. Protection against death and permanent disability.
4. Additional payouts⁴ above the sum assured in the event of total and permanent disability (TPD before the age of 65).
5. Loyalty discounts of up to 10% if you continue to stay covered under this plan minimally for the subsequent 2 years consecutively after your 1-year complimentary cover ends.

You may enhance the coverage of your LUV Basic cover or top up additional premium from as low as $2.50 per month⁵ for LUV Deluxe cover for added coverage against 30 critical illnesses⁶.

Learn more here.

Important notes:

¹ This yearly premium rate is applicable to applicants aged 61 to 65 (age next birthday) for sum assured of $50,000 (plan 2) under the LUV Basic cover.  

² Promotion terms and conditions apply.

³ You will receive a daily hospital cash benefit of $25 for $50,000 sum assured ($5.00 for every $10,000 of the sum assured) for up to 365 days for each period of hospital stay in Singapore. Each stay in the hospital must be for at least six hours in a row unless the insured’s stay in the hospital is for a surgical operation, or the hospital bills for daily room and board charges. A waiting period of 30 days from the start date of the insured’s cover will apply, unless the insured’s stay in the hospital is due to an accident.

⁴ We pay a further monthly payout of 1% of the sum assured for the next 12 months or until the insured reaches the age of 65 or until the insured dies, whichever is earliest.

⁵ This monthly premium rate of $2.50 is calculated based on the difference of the premium rates between LUV Deluxe cover and the complimentary LUV Basic cover, for sum assured in the amount of $50,000 and applicants aged 1 to 18 (age next birthday). For example, under the same age band and sum assured, the monthly premium rate for the LUV Basic and Deluxe cover is $3.50 and $6 respectively, the monthly premium rate for the additional coverage shall be $6 - $3.50 = $2.50.

⁶ You can sign-up for additional sum assured for LUV basic cover or opt for LUV deluxe cover at https://www.income.com.sg/applyforluv . The payable premium will be in accordance to the terms of the additional LUV Policy issued. The 30 critical illnesses coverage is only applicable under the Deluxe cover. Please refer to the list of 30 critical illnesses on our website. For major cancer, coronary artery bypass surgery, heart attack of specified severity and angioplasty and other invasive treatment for coronary artery, a waiting period of 90 days from the start date or reinstatement date (if any) of the insured’s cover, whichever is later will apply. For the other remaining critical illnesses, a waiting period of 30 days from the start date or reinstatement date (if any) of the insured’s cover, whichever is later will apply.

This is for general information only. National Trades Union Congress (“NTUC”) is the policyholder. You can find the usual terms and conditions of LUV plan in the master policy contract issued to NTUC. The cover for LUV plan will automatically end upon the termination of the master policy by either Income or NTUC. All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. This plan does not have any cash value.

LUV is underwritten and issued by Income.

Protected up to specified limits by SDIC.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as of 18 June 2020.

Not an NTUC Member?

Join us as a member, to enjoy complimentary access to advice and assistance on workplace issues and employment-related matters, plus other benefits that help you get more out of your career and life!